Currency Rate in Pakistan, 8 November 2018

Currency Rate in Pakistan

Karachi: Here is the updated currency rate in Pakistan as 8 November 2018. We collect currency rates from local exchanges and local forex market of different cities including Lahore, Peshawar, Faisalabad, Gujranwala, Islamabad, Karachi, Rawalpindi, Quetta, Sialkot, and Multan.

Forex Updates

Currency

Symbol

Buying

Selling

Euro

EUR

149.5

151

US Dollar

USD

131.9

132.7

British Pound

GBP

171

172

Saudi Riyal

SAR

34.9

35.5

UAE Dirham

AED

35.8

36.4

Australian Dollar

AUD

94

95.25

Kuwaiti Dinar

KWD

438

440.5

Canadian Dollar

CAD

99.75

101.5

Chinese Yuan

CNY

19.25

19.4

Indian Rupee

INR

1.78

1.85

Which factors affect currency rate in Pakistan?

There are several factors that higher or lower the currency rate in Pakistan or any other country. The Dollar rate in Pakistan has also seen a high rise in last few months.

The USD to PKR came down as Rupee recovered against US Dollar. The recovery came after PM Imran Khan secured $6 billion Saudi loan from Saudi Arabia on an annual basis. However, it will be for one year in the form of cash assistance and oil on deferred payments. This agreement will be in place for at least three years.

Following a steep increase in the US dollar’s price last week, the rupee made a recovery against the dollar in the inter bank market on Friday as it was trading at Rs 132.40 in the inter bank, down Rs 1.40 and closed at Rs 131.90, down by Rs 1.87.

A few days back, The Dollar rate in Pakistan significantly increased as the Pakistani Rupee fell to all time low value. The dollar was falling in the evening after the receiving of $10 million remittances into the market.

The interbank market has seen a 7.5% depreciation of Pakistani Rupee against the US dollar. However, the dollar was traded below Rs134 on October 10.

Later, Pakistani rupee recovers against dollar in the inter bank market as ratio came down. The US dollar was traded at Rs 132.40 and lowered by Rs 1.40.

Syed Faizanullah Hussainy is a senior content writer with writing expertise in different niches. He is an Electronics Engineer by qualification and loves to write about different topics. He has three years of writing experience and currently working as a content writer at hamariweb.com.